MEDIROM Healthcare Technologies Inc. Receives Nasdaq Notification Regarding Minimum Market Value Deficiency

NEW YORK, July 01, 2022 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NasdaqCM:MRM), a holistic healthcare Company based in Japan (the “Company”), announced today that it has received a written notification (the “Notification Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) dated June 29, 2022, notifying the Company that it is not in compliance with the minimum market value requirement set forth in Nasdaq Listing Rules for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum market value of US$35 million and Nasdaq Listing Rule 5810(c)(3)(C) provides that a failure to meet the minimum market value requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the market value of the Company from May 9, 2022 to June 28, 2022, the Company no longer meets the minimum market value requirement.